ADS Maritime Holding

AGM Information • Apr 8, 2022

ADS MARITIME HOI DING PI C

(the 'Company')

MINUTES OF THE ANNUAL GENERAL MEETING OF THE COMPANY held at the Company's registered offices at OSM House, 4532 Agios Tychonas, Limassol, Cyprus, on 8th April 2022 at 11:00 hrs.

1. OPENING OF THE MEETING

Marios Demetriades, who acted as Chairperson of this Annual General Meeting, declared the Annual General Meeting of the Company (the "Meeting") open.

The Chairperson advised the Meeting that two members of the current Board of Directors of the Company were present, either physically or by Microsoft Teams. In addition, the Chairperson advised that the Company's Chief Executive Officer (Terje Bodin Larsen), Chief Financial Officer (Dagfinn Andersen) and Finance Manager (Arild Bårdsen) were also present by Microsoft Teams and that Sofi Mylona acted as Secretary of the Meeting.

2. QUORUM AND NOTICE

The Chairperson informed the Meeting that the Notice of Annual General Meeting published and dated 17 March 2022 (the "AGM Notice") is taken as read.

The Chairperson declared that she was the holder of a sufficient number of proxies to satisfy the quorum requirements pursuant to the Articles of Association of the Company, namely the below four shareholders, representing appr. 28.527% of the issued shares of the Company:

(i)	Shiphold Limited -	403.180 shares
(ii)	ADS Shipping Ltd --	6,203,554 shares
(iii)	AB Consult AS	18,628 shares
(iv)	Vineta Ltd	47,205 shares

The Meeting was thus declared to be quorate.

3. BUSINESS OF THE MEETING

The Chairperson informed the Meeting that the purpose of the Meeting was to enable the Company's shareholders to (i) receive and consider the Board of Directors' Report, the Audited Annual Financial Statements of the Company, the Audited Financial Statements of the Group and the Auditors' Report, for the year 2021 (collectively, the "Annual Report") and (ii) to consider and, if thought fit, to pass the following shareholder resolutions (the "Resolutions") as set out in the AGM Notice:

• 1 (a) Re-appointment of Bjorn Tore Larsen, as a Director of the Company;
• 1 (b) Re-appointment of Thessalia Papaiakovou, as a Director of the Company;

• 2 Meeting;

• Authority to be granted to the Board of Directors to set the remuneration for the Auditors for 2022.

4. VOTING

The Chairperson proposed the Resolutions.

The Chairperson appointed the Secretary to table the votes cast by shareholders and announced the results as follows:

Total number of shares with voting rights: Total represented with voting rights: shares)

6,672,567 (appr. 28.527%) of the total number of

Resolution type	Resolution number	Votes for	Votes against	Abstained
Ordinary resolution	1 (a)	6,672.567
Ordinary resolution	1 (b)	6.672.567
Ordinary resolution		6.672.567
Ordinary resolution	3	6,672,567

The Chairperson confirmed and declared to the Meeting that the ordinary resolutions had each been passed by the Meeting as set out above with the requisite majorities in accordance with the Articles of Association of the Company and the Law.

5. CLOSE OF THE MEETING

The Chairperson noted that the business of the Meeting was concluded and no other proposals or issues were raised. The Meeting was declared closed.

497 Marios Demetriades Chairperson of Meeting

Sofi Mylona Secretary